The Regional Municipality Of York

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Financial Incentives for Complete Communities

Photograph of the Vaughan Metropolitan Centre showing the TTC subway station entrance, pedestrians and traffic including a YRT bus

Supporting the creation of complete communities

To help facilitate the growth of complete communities, York Region Council approved new development charge deferrals on October 17, 2019 for affordable, purpose-built rental housing and large office buildings. These incentives support the growth of affordable housing and jobs for York Region’s changing population and workforce, aligning with York Region’s city building initiatives and vision of creating complete communities.

What are complete communities?

Complete communities support people of all ages and abilities to live, work and play in their communities. Complete communities offer a range of housing types and affordable options, while also promoting job growth and a diverse workforce for existing and new businesses. A key component of building complete communities is ensuring there is a match between where workers live and where they can find employment options within their community.

How do these programs support the development of complete communities?

In consulting with residents and businesses, opportunities and gaps in our communities have been identified. There are few affordable housing options available to mid-range income households and few large format office developments to support our growing knowledge economy. These incentive programs were developed to promote more affordable housing options for current and future residents and increase the supply of large office buildings for current and future employers in York Region’s major city areas.

What do these programs offer?

Both the affordable rental and office incentives are graduated programs, where developments will receive a longer deferral depending on size and location. Under both programs, the full development charges payable could be deferred, interest-free, for between 5 and 20 years and neither program would require a letter of credit. The affordable rental incentive program is available to a total of 1,500 housing units over the next three years. The office incentive program is a three-year pilot available to a total of 1.5 million square feet of office space. Under both programs, buildings must be a minimum of 4 storeys in height and similar or better local municipal participation is required in order to qualify for the incentives.

The new development charge deferral programs are in addition to the existing deferral programs offered by York Region in support of new rental and office developments. The 36 month development charge deferral is available for purpose-built rental housing in York Region, with no affordability criteria. The 18 month development charge deferral is available for office buildings, which requires a letter of credit to be provided to the Region.

This chart explains the York Region Development Charge Deferrals for affordable purpose built rental and large office buildings

For more information on program requirements, please refer to the detailed policies in the Resources section of the page.

If you have any further questions, contact Fabrizio Filippazzo, Manager - Development Financing Administration, Treasury Office at 1-877-464-9675 extension 71696 or email Fabrizio.Filippazzo@york.ca

 



Related Resources:

Regional Council Reports, Memorandum and Presentations:

Rental Development Charge Deferral Policies:

Office Development Charge Deferral Policies:


financial,incentives,development charge deferral The Regional Municipality of York en-US Photograph of construction of condominium towers in Vaughan Metropolitan Centre, showing pedestrians and YRT bus. Financial Incentives for Complete Communities To help facilitate the growth of complete communities, York Region Council approved new development charge deferrals on October 17, 2019 for affordable, purpose-built rental housing and large office buildings.

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